no its depend upon the performance and placement of the college/university..the main thing for the ranking are placement percentage,infrastructure,quality education,faculties..etc..the ranking of top colleges for MBA in India are named as viz-
1.Institute of Management, Nirma University-Ahmedabad Ahmedabad
2.Algol School of Management and Technology Gurgaon
3.Lovely Professional University, Punjab
4.S.P. Jain Institute of Management and Research - SPJIMR Mumbai
5.Symbiosis Centre for Management and Human Resource Development - SCMH
LPU is ranked as A+ grade university in India by business world/..